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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. want to trto crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share wi
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. want to trto crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who...
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house speaker boehner said that will be a debating point in the debt ceiling and in the fiscal cliff when it comes to that. ashley: certainly will. milton ms. rought at this, thanks for being with us for your perspective on the market when we see what happens in washington. thanks so much. >> thank you. tracy: he is oozing confidence in washington, isn't he? ashley: yes. dripping with sarcasm i think is more --. tracy: sham else about. i love that word. it's a shambles. there is so much more ahead this hour including a biotech ceo what is hurting innovation in the sector. you guessed it, obamacare. a corda's ron cohen is here. ashley: apple making lots of news with its stock swings. reports it is shifting production away from china back to the u.s. as we do this time every day, look how oil is trading. down nearly 2%. bun a buck 73 at 86.15 a barrel. we'd be right back there is no mass-produced human. every human being is unique. and there is one store tha. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclus
house speaker boehner said that will be a debating point in the debt ceiling and in the fiscal cliff when it comes to that. ashley: certainly will. milton ms. rought at this, thanks for being with us for your perspective on the market when we see what happens in washington. thanks so much. >> thank you. tracy: he is oozing confidence in washington, isn't he? ashley: yes. dripping with sarcasm i think is more --. tracy: sham else about. i love that word. it's a shambles. there is so much...
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we are nowhere in terms of the fiscal cliff negotiations. does the president agree? >> no, he does not. you saw secretary geithner over the weekend on aaoth sunday shows very clearly express the president's poition, talk about the proposals the president has put forward and express our belief that there has been progss and that we an achieve a bipartisan agreement. lou: the president has not spoken to the house speaker about a resolution to the fiscal cleft cents late night phone call last wednesday. instead dispatching treasury secrary timothy geithner did last thursday to present a plan that the speaker deed not serious. here is his response to the negotiations that have largely taken place through the media. >> flabbergasted. he can't be serio. i've never seen anything like it seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. lou: the speaker, an absence of actual conversation or anything resembling negotiations sent a letter to the president with the republican cou
we are nowhere in terms of the fiscal cliff negotiations. does the president agree? >> no, he does not. you saw secretary geithner over the weekend on aaoth sunday shows very clearly express the president's poition, talk about the proposals the president has put forward and express our belief that there has been progss and that we an achieve a bipartisan agreement. lou: the president has not spoken to the house speaker about a resolution to the fiscal cleft cents late night phone call...
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house speaker banner expressed his feelings on the fiscal cliff. we are talking budgets and essential programs. how is the state of utah handling all of this wow it is day four. we welcome utah governor in a fox business exclusive. welcome, governor. we begin by asking all of our governors, what are you doing? what action are you taking in advance? >> well, we have done what is proper and prudent. we live within our means. we do not have unnecessary debt. we have a rainy day surplus funds. that helps insulate us against some of the ups and downs of the market place nationally. our unemployment rate has dropped to 5.2. we are creating jobs. we are growing wealth in the private sector. our personal income is going up also. we are doing things that they ought to be doing in washington, d.c. liz: in the next three weeks, as you have meetings with your staff, you tell me, we talked about, for example, they have to prepare two separate budgets. how are you expected to be affected if, for example, 30% of your budget comes from federal funding, what if tha
house speaker banner expressed his feelings on the fiscal cliff. we are talking budgets and essential programs. how is the state of utah handling all of this wow it is day four. we welcome utah governor in a fox business exclusive. welcome, governor. we begin by asking all of our governors, what are you doing? what action are you taking in advance? >> well, we have done what is proper and prudent. we live within our means. we do not have unnecessary debt. we have a rainy day surplus...
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is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frightened republicans that the debate is not just about raising taxes on the rich. >> the truth is everybody needs to take more taxes, not just the rich. that's a good start, but we're not going to get out of the deficit problem unless we raise taxes across the board. to go back to what bill clinton had. >> now, some liberals pushed the president to invoke the 14th amendment claiming that gives him the executive power to raise the debt limit himself, but jay said today the white house studied that proposition and decided the president does not have that executive power meaning we headed for another show down with congress over raising the debt ceiling. lou: the fiscal cliff and now a new ultimatum on the national debt ceiling. you suppose this is the last condition? >> it's going to be a wild couple of months, maybe everybody thought with the election over, there was going to be peace and figure all of this out, but i thi
is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frightened republicans that the debate is not just about raising taxes on the rich. >> the truth is everybody needs to take more taxes, not just the rich. that's a good start, but we're not going to get out of the deficit problem unless we raise taxes across the board. to go back to what bill clinton had. >> now, some liberals pushed the president...
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housing is recovering. i think without the fiscal cliff, we will do all right. lori: tax rates or than likely are going up, at least for one class. you have this slow growth. at the same time, think of the federal reserve keeping rates low for so long. we could be in serious trouble. >> on the inflation front, we are not very worried for the next year or two. it is out there, but not the next year or two. they will phase in whatever tax increase they put in. it will not hit next year. it will phase in over a couple years. that is the smart way to do it. lori: thank you for your time. >> thank you. you bet. melissa: i would like to be optimistic. date -- details of the probe have not been released. over 80 people have already been questioned about the more than $5 billion in trading losses last day. peter barnes has the exquisite details right now. peter: we first learned about this probe in september through news media reports. the number of people questioned suggest that the scope of this thing is broad and could lead to more political problems in washington fo
housing is recovering. i think without the fiscal cliff, we will do all right. lori: tax rates or than likely are going up, at least for one class. you have this slow growth. at the same time, think of the federal reserve keeping rates low for so long. we could be in serious trouble. >> on the inflation front, we are not very worried for the next year or two. it is out there, but not the next year or two. they will phase in whatever tax increase they put in. it will not hit next year. it...
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dennis: more fiscal cliff rhetoric from house speaker john boehner and president obama. when are they going to get serious? cheryl: look at live pictures of the original backmobile. we will have the designer and a man who will auction this baby off. dennis: look at today's s&p winners and losers. there is no mass-produced human. every human being is unique. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing being. dual warmth comforters. all designed around the sleep number bed: a bed with dual-air technology that allowyou to adjust to the support your body needs. each of your bodies. in the name of human individuality: the sleep number collectio individualize your sleep experience. exclusively at one of our 400 sleep number stores nationwide. sleep number. comfort individualized. this holiday season, give the gift that's magical: the innova
dennis: more fiscal cliff rhetoric from house speaker john boehner and president obama. when are they going to get serious? cheryl: look at live pictures of the original backmobile. we will have the designer and a man who will auction this baby off. dennis: look at today's s&p winners and losers. there is no mass-produced human. every human being is unique. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive...
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ashley: the white house releasing a photo of president obama tweeting about the fiscal cliff. so far his answers are a blinding glimpse of the obvious. we will continue to monitor that. we will bring you the latest. you can also watch it on fox business.com. tracy: there is not that many. i am kind of surprised he has not gotten more questions. ashley: i think no one is bothering. tracy: the answers are pretty obvious. thirty past the hour. time to get a check on the markets. lauren simonetti on the floor. >> i do not know, we are struggling to stay near 13,000. >> there is a lot of time coming up between now and then. let's just try to get to the week where we are right now. everyone is talking about the fiscal cliff and the unemployment number. with the clouds over the market, i think investors will play it very tightly coming into year end. there are people positioning themselves for next year. we cannot forget about the economic data that will help us into next year. i think it is important we get a good implement number here. >> what are you thinking for friday with the j
ashley: the white house releasing a photo of president obama tweeting about the fiscal cliff. so far his answers are a blinding glimpse of the obvious. we will continue to monitor that. we will bring you the latest. you can also watch it on fox business.com. tracy: there is not that many. i am kind of surprised he has not gotten more questions. ashley: i think no one is bothering. tracy: the answers are pretty obvious. thirty past the hour. time to get a check on the markets. lauren simonetti...
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republicans submitted their solution to the fiscal cliff yesterday. white house and other democrats dismissed it immediately. take a look at how that affected the market this morning. not at all. the dow is up 43. 13,000 is where we are. liz macdonald says we will see is a last minute deal, christmas eve, new year's eve, on the fiscal cliff. we shall see. next, a special early my take. i am fired up about the prospect of ambassador anna wintour. i couldn't wait for the normal time. i'm going to do it early. stay right there. and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. that's why ally has ia raise your rate cd.n. ally bank. your money needs an ally. stuart: california high taxes, strict green laws, a liberal supermajority in the statehouse, not exactly business friendly. that's why so many businesses are leaving. they are going to places like phoenix. so we're going to talk to the mayor of phoenix. greg stanton, what is he offering to the california refugees to get them t
republicans submitted their solution to the fiscal cliff yesterday. white house and other democrats dismissed it immediately. take a look at how that affected the market this morning. not at all. the dow is up 43. 13,000 is where we are. liz macdonald says we will see is a last minute deal, christmas eve, new year's eve, on the fiscal cliff. we shall see. next, a special early my take. i am fired up about the prospect of ambassador anna wintour. i couldn't wait for the normal time. i'm going to...
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the fiscal cliff aiming at the housing market. will the recovery disappear if we fall off the cliff? we'll get advice. stay tuned. ♪ now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. ich is w we are prou to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmists and other health professionals who helped us achve the highest average star rating among national dicare companies... and become the first and only national medicare advantage company to achieve a 5-star rati for a medicare plan... your efforts result in the quality of care and service we're able to provide... yourwhich meanssult better heah outcomes... and mo quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ gerri: is another taxpayer-funded bailout coming down th
the fiscal cliff aiming at the housing market. will the recovery disappear if we fall off the cliff? we'll get advice. stay tuned. ♪ now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. ich is w we are prou to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians,...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am on the naughty list again? ho ho ho! but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot fr
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells,...
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and the fact is, this debate over the fiscal cliff, you have gone through this the exercise and trauma before. 1996 as chairman of the house ways and means committee. a center stage position. what counsel could you give the speaker, the republican leaders president who has set the conditions for not only what must be met in order to avoid the cliff, but has set the parameters of the debate and negotiation if there is to be one itself. >> well, you remember very well that we had a very different white house. president clinton had decided that he was going to try to work with the republicans. he brought in a new chief of staff by the name of erskine bowles, and in that has popped up again. and he immediately called me and said to my here to work with you and that enabled us to do a lot of things that i don't think the republicans today can get done with this obama white house. lou: and are you and i in agreement that the republicans are not in nearly sufficiently strong position, not with the lack of talent, there are some questions about that, but because of the lack f power of the lead
and the fact is, this debate over the fiscal cliff, you have gone through this the exercise and trauma before. 1996 as chairman of the house ways and means committee. a center stage position. what counsel could you give the speaker, the republican leaders president who has set the conditions for not only what must be met in order to avoid the cliff, but has set the parameters of the debate and negotiation if there is to be one itself. >> well, you remember very well that we had a very...
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. >> coming up on "the willis report", obama ad the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? christmas wish list? have before copd... i tk my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fishn! symbicorts for copd including chronic bnchitis and emphysema. it should not be taken more an twice a day. symbirt may increase your risk of lung infections, osteoporosis, d some eye problems. tell your doctor if you have a heart condition or hi blood pressure before taking it. with copd, i thought i'd miss our family tradition. now symbicort significantly improves my lung function, starting
. >> coming up on "the willis report", obama ad the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? christmas wish list? have before copd... i tk my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor...
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. >> coming up on "the willis report", obama and the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? we have the best of the best on "the willis report" coming up next can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is is trick to t my spot? [ male announcer break from the holiday stress. save on ground shipping at fedex office. heartburn symptoms causedelieve by acid reflux disease.y stress. osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach condions may still exist. talk to your doctor about nexium. i have obligations. cute obligations, but obligatio.ming. i need to rethink th core of my portfolio. what i really need is sleep. introducing the ishares core, bu
. >> coming up on "the willis report", obama and the house republicans not letting on their fiscal cliff stands. the fiscal cliff symbolizes time over tragedy. it will soon be a loss for many new york city commuters. but the tablet top your christmas wish list? we have the best of the best on "the willis report" coming up next can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is...
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fiscal cliff talk. john boehner says he is waiting for a counter offer from the white house. adam: wall street feers gauge barely pausing. our traders, are they not worried about going over the fiscal cliff quirks we are headed to the for the new york stock exchange next. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink thecore . what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfo find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, crges and expenses. read and conder it carefully before investing. ri includes possible loss of principal. adam: the state of nevada has gambling up. dollars. slot machines are up a whopping 11%. it is a big-time for casino operators to. they lower the cost of financing their debt. melissa: will get that across the board. this is one of those times -- you were supposed to be my boat party. but you one mone
fiscal cliff talk. john boehner says he is waiting for a counter offer from the white house. adam: wall street feers gauge barely pausing. our traders, are they not worried about going over the fiscal cliff quirks we are headed to the for the new york stock exchange next. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink thecore . what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfo find...
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says white house offer on fiscal cliff is unbalanced. bret, tell me i'm wrong here, it seems like the media is setting unto blame the republican for this outrageous offer from the president, go. >> what's the offer? what? >> a massive tax increase, no entitlement reform and no restraint on borrowing. now, there's an offer. >> in other words, in other words, there's no plan. this should be a story that the whole debate has been going on for two years about having a package of spending cuts to go along with the package of tax increases. and now, we've got the senate saying, that the one problem, entitlements is now off the table, and meaning they're no longer serious and the white house saying we don't have plans to cut anything. in other words, there is no plan. that should be the story. and just like, stuart, the entirety of 2012 campaign. nobody brought up that the barack obama didn't have a plan the entire-- it's mind-boggling. stuart: i'm looking at the so-called offer, if implemented would put mesh-- measured america straight into re
says white house offer on fiscal cliff is unbalanced. bret, tell me i'm wrong here, it seems like the media is setting unto blame the republican for this outrageous offer from the president, go. >> what's the offer? what? >> a massive tax increase, no entitlement reform and no restraint on borrowing. now, there's an offer. >> in other words, in other words, there's no plan. this should be a story that the whole debate has been going on for two years about having a package of...
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dennis: what is the next step in the fiscal cliff talks? 30 days left to negotiate. more posturing ahead? more progress? the senior editor at fortune magazine predicts, i remember the moment in the presidential debate when obama said going off the cliff not going to happen. doesn't seem social or right now. >> not going to happen, what he said. i am at harvard kennedy school where right this very minute senior campaign managers from the romney and obama campaign and every other campaign are being debriefed by top political reporters and it is interesting because obama clearly sees that he has a mandate out of the election on fiscal cliff issues. even though it wasn't a huge issue in the debate the white house is behaving like it has that mandate. what you have been seeing is republicans showing signs of flexibility and i am not just talking john boehner saying revenue is on the table. we have republican senators saying they will stand up to the grover norquist tax pledge. they're willing to break it which is pretty big news. we also have the influential member of con
dennis: what is the next step in the fiscal cliff talks? 30 days left to negotiate. more posturing ahead? more progress? the senior editor at fortune magazine predicts, i remember the moment in the presidential debate when obama said going off the cliff not going to happen. doesn't seem social or right now. >> not going to happen, what he said. i am at harvard kennedy school where right this very minute senior campaign managers from the romney and obama campaign and every other campaign...
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there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats. they been acquired sponsorship rights for my2k, they often see paid messages opposing the obama tax hikes. they run the gamut. some talk about the sudden switch to now playing up keeping tax cuts for everyone else. others make fun of my2k origins. a few samples. obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by progra
there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and...
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>> well, if they know how to deal with this properly, they so-called fiscal cliff is a piece of legislation, enacted by a republican house, a democratic senate and signed by a democratic president. stuart: you cannot fight the establishment media which is unified in blaming the republicans. >> my dear stuart, we work for an entity that for 16 years has successfully fought the establishment media, called fox. of course you can take them on. stuart: all around the table, you give me your honest judgment. you really think that if we go over the cliff, there's no agreement, and we go into recession, the republicans will not get the blame. you think they will not get the blame? >> -- because they don't know how to defend themselves. they don't know how to point the finger at the president who couldn't get a budget through a democratic house and a democratic senate. stuart: they are politicians. they are republicans. and they will get the blame. do you agree with that? sandra: it is still obama's last term and it's still -- the success of that term is still on his shoulders. i think the republica
>> well, if they know how to deal with this properly, they so-called fiscal cliff is a piece of legislation, enacted by a republican house, a democratic senate and signed by a democratic president. stuart: you cannot fight the establishment media which is unified in blaming the republicans. >> my dear stuart, we work for an entity that for 16 years has successfully fought the establishment media, called fox. of course you can take them on. stuart: all around the table, you give me...
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about an hour after speaker boehner spoke this morning about the fiscal cliff ago she haitians. in case you missed it, a quick piece of that. >> if you look at the plant that the white house has talked about thus far, they could not pass either house. dagen: rich benson is here. he is joining us with the latest from d.c. >> i think you can tell where the president was heading with this. we know the president lied on this is the campaign to raise taxes on wealthier americans. he says it is all part of the budget that he has put out over the last few years. that budget calling for tax increases over the next decade on families earning more than $250,000 a year. he campaigned on march revenue less than that. tax deductions they can't, they just say they would not raise tax rates. that really has been the key to all of this. connell: we are kind of caught in the middle. you saw the president speaking on the screen while rich was speaking. the audio still is not quite right of it. thank you. there we go. citigroup. another big story today. the stock has been up. 11,000 people, though
about an hour after speaker boehner spoke this morning about the fiscal cliff ago she haitians. in case you missed it, a quick piece of that. >> if you look at the plant that the white house has talked about thus far, they could not pass either house. dagen: rich benson is here. he is joining us with the latest from d.c. >> i think you can tell where the president was heading with this. we know the president lied on this is the campaign to raise taxes on wealthier americans. he says...
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house speaker boehner says fiscal cliff talks, well, they have gone, quote, almost nowhere. that is encouraging, isn't it? when will both sides finally make progress towards a deal? "wall street journal's" gerald seib met with senate minority leader mitch mcconnell. he will be here to tell us what he had to say. tracy: i'm excited. new study says which americans pay the most in taxes and probably not who you think or maybe it is. it raises questions who is really not paying their fair share. ashley: i think it is me by the way. if fiscal cliff wasn't bad enough, food prices will spike in the new year, you remember the drought, plus inaction in congress will cost you more at the checkout. tracy: i remember jeff flock out in those fields right? ashley: can't forget that. tracy: time for stocks as we do every 15 minutes. lauren simonetti on the floor of new york stock exchange today. we got another sign of consumer weakness, didn't we? >> tracy and ashley, consumer spending fell in october, first decline in five months that is keeping a cap on stocks. all three major averages i
house speaker boehner says fiscal cliff talks, well, they have gone, quote, almost nowhere. that is encouraging, isn't it? when will both sides finally make progress towards a deal? "wall street journal's" gerald seib met with senate minority leader mitch mcconnell. he will be here to tell us what he had to say. tracy: i'm excited. new study says which americans pay the most in taxes and probably not who you think or maybe it is. it raises questions who is really not paying their fair...
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eastern about the fiscal cliff. all part of the white house my2k campaign with the president drumming up support for higher taxes on the rich. dennis: that will be a fair and balanced asourcement of questions. our parent company, parent corp., details on splitsville, editor and chief of the "wall street journal" is ceo of the print spinoff taking the news corp. name. the video film television properties is fox group and the daily, launched by news corp. last year as the first ipad only newspaper, one of them anyway, closing, rest in peace. ad spending is the canary in the coal mine taking a hit, three ad agency giants reducing forecasts for next year. 4.5%. more sluggish 4.1%, and worldwide, interpublic, most bearish, in half to 3.1% next year, and there's this, the 86-year-old icon of playboy getting hitched on new year's eve to crystal harris who is six decades younger, she's 26. now, that's just wrong unless you're hugh hefner. tracy: she didn't show last time. the second engagement, and jilted four days before h
eastern about the fiscal cliff. all part of the white house my2k campaign with the president drumming up support for higher taxes on the rich. dennis: that will be a fair and balanced asourcement of questions. our parent company, parent corp., details on splitsville, editor and chief of the "wall street journal" is ceo of the print spinoff taking the news corp. name. the video film television properties is fox group and the daily, launched by news corp. last year as the first ipad...
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the market interpreted positive statements on a potential deal on the fiscal cliff by house speaker and rebounded from what had been a 112-point slide after the morning's opening bell. the dow jones industrials reversed, as i said, on the speaker's positive remarks and finished the session up 107 points. s&p up 11, nasdaq gained 24. all ten s&p 500 sectors moved higher on the day. that is the first time it has happened since october 4th. retailers drove the consumer discretionary sector energy industrials lead in the wake, and the rally started just minutes before house speaker made it clear that republicans are willing to deal on revenue and ready to find a resolution now. >> we all know that we have had this spending crisis coming at us like a freight train. it must be dealt with. and in order to try to come to an agreement, republicans are willing to put revenue on the table, but it is time for the president and democrats to get serious about the spending problem that our country has. i am optimistic that we can continue to work together to avert this crisis sooner rather than later.
the market interpreted positive statements on a potential deal on the fiscal cliff by house speaker and rebounded from what had been a 112-point slide after the morning's opening bell. the dow jones industrials reversed, as i said, on the speaker's positive remarks and finished the session up 107 points. s&p up 11, nasdaq gained 24. all ten s&p 500 sectors moved higher on the day. that is the first time it has happened since october 4th. retailers drove the consumer discretionary sector...
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all eyes now are on the white house for a solution to the fiscal cliff. will the president -- what will he do? the "a-team" sorts out what is happening in washington. monica crowley and angela mcglowan, steve murphy, they join us here coming up next. now we need a ltle bit more... [ male announcer ] at hana, we understand the value of ality time and personal attention. which is why ware proud to partner with health care professionals who understand th difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts resu in the quality of ce and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma!
all eyes now are on the white house for a solution to the fiscal cliff. will the president -- what will he do? the "a-team" sorts out what is happening in washington. monica crowley and angela mcglowan, steve murphy, they join us here coming up next. now we need a ltle bit more... [ male announcer ] at hana, we understand the value of ality time and personal attention. which is why ware proud to partner with health care professionals who understand th difference that quality time with...
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to ourtop story tonight, speaker boehner and house republicans are rolling out eir fiscal cliff counteroffer to the white house. includes $800 billio in new tax revenue. that is roughly half what the president was aiming for. 300 billion in dcretionary spending cuts. 900 billion in mandatory spending cuts. now the whi house responding just moments ago saying quote, the republican letter released today does not meet the test of balance. they don't like it. i'm joined by da mitch chill from the cato institute for more on this. dan what do you think. these are a lot of things to occur just in the past few hours. do you feel like ere is progress being made? >> there is progress but progress in the wrong direction. the number on thing to understand alrdy even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to
to ourtop story tonight, speaker boehner and house republicans are rolling out eir fiscal cliff counteroffer to the white house. includes $800 billio in new tax revenue. that is roughly half what the president was aiming for. 300 billion in dcretionary spending cuts. 900 billion in mandatory spending cuts. now the whi house responding just moments ago saying quote, the republican letter released today does not meet the test of balance. they don't like it. i'm joined by da mitch chill from the...
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they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not which one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that resolution in washington d.c. >> but the problem here is that frankly there is a fine and out of capital that can be used up their divided either in the private sector which creates businesses and jobs and federal revenue or given to the government which is just a bureaucracy and creates nothing but bureaucratic management. if you look at the last gop congress and the expenditures, about two and half trillion dollars and now the president's proposals are about 4 trillion in spending with deficits and increased. it is the economy. lou: it truly is. and i want to also if
they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not which one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that resolution in washington d.c. >> but the...
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the mortgage interest deduction could be on the chopping block as part of a fiscal cliff deal. will this kill any incentive to buy a home and the housing market right along with it? we'll take a look. >>> a new report that exxonmobil has a oil shortage going on. its oil and gas output is at a 3-year low. we'll tell you why and whether you need to worry about more industry giants suffering the same fate. >>> put your money where your mouth is. a rapper offers a mill dollar reward for the lost laptop. when it is found he refuses to pay up. the financial fight goes to court. you won't believe who the jury has singing the blues. even when they say it's not it is always about money liz: all right. first let's take a look at the day's market headlines, will they or won't they? this is worse than an episode of "friends" i have to tell you. mixed signals from congressional leaders sent stocks whipsawing but all the major indices rose at the end of the day. the dow closed 36 points. it is something, come on. >>> research in motion hearing words they're not used to, buy. goldman sachs up
the mortgage interest deduction could be on the chopping block as part of a fiscal cliff deal. will this kill any incentive to buy a home and the housing market right along with it? we'll take a look. >>> a new report that exxonmobil has a oil shortage going on. its oil and gas output is at a 3-year low. we'll tell you why and whether you need to worry about more industry giants suffering the same fate. >>> put your money where your mouth is. a rapper offers a mill dollar...
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up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's iefonomist, and deuche bank senior economist here next. stay with us. with the spark cash card from capital one, olaf gets great rewas for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark rd! [ pop! ] [ garth ] why settleor less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? we don't let frequent heartburn come between us and what we love. so if you're onef them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur lou: you know, it may surprise some that december is historically the strongest month for investors. the s&00 posting gains in december,
up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's iefonomist, and deuche bank senior economist here next. stay with us. with the spark cash card from capital one, olaf gets great rewas for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark rd! [ pop! ] [ garth ] why settleor less? great businesses deserve great rewards!...
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up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less than optimistic? joining me is john, and carl, senior economist for deutsche bank. gentlemen, thank you for being here. start with the treasury secretary. the man in charge of our treasury is out telling everyone that the administration he works for is a part of is perfectly prepared to go over the fiscal cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it
up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to the right thing? admiral james lyons joins us next. ♪ lou: 31 days until the fiscal clef, the threat of sequestration largely being ignored. automatic spending cuts tohe tune of 1 trillion over ten years, hal coming from our defense budget. joining me now to discuss the impact on our military, nestle security, we are joined by hammer and -- admiral james lyons. they to have you back with us. your thoughts on the impact of sequestration is, indeed, it goes into affect year. >> in the words of the secretary of defense, leon panetta, this will be a disaster. what the obama administration is doing is unilaterally reducing the military capability of our forces. this is at a time when we have china with its massive force expansion, building a world capable force projection capability. we have the russians modernizing the russian forces. we still have the iranian problem totally unr
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to the right thing? admiral james lyons joins us next. ♪ lou: 31 days until the fiscal clef, the threat of sequestration largely being ignored. automatic spending cuts tohe tune of 1 trillion over ten years, hal coming from our defense budget. joining me now to discuss the impact on our military, nestle security,...
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to add vert the fiscal cliff scheduled for tomorrow, but, guess what? the president will not be attending it, secretary tim geithner will. regardless of the -show tomorrow, president obama is hopeful to get a deal done by christmas, not inspiring confidence for pushing small businesses as key democrati leaders refuse to put entitlements on the table. for more on all of this, republican congressman langford of oklahoma. congressman, welcome back, always great to have youere. >> thank y very much. gerri: president with strong words for congress. here's what he had to say. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next wreer. right now, as we speak, coness can pass a law that would prevent a tax hike on the first $250,000 of everybody's income. gerri: there's the president calling out congress. what do you have to say, congressman? >> yeah, here we go in the middle of this. the house passed all our tax things in april. we passed the sequestering documents in may. we waited for the sena
to add vert the fiscal cliff scheduled for tomorrow, but, guess what? the president will not be attending it, secretary tim geithner will. regardless of the -show tomorrow, president obama is hopeful to get a deal done by christmas, not inspiring confidence for pushing small businesses as key democrati leaders refuse to put entitlements on the table. for more on all of this, republican congressman langford of oklahoma. congressman, welcome back, always great to have youere. >> thank y...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. look, if youave co like me, you know it can be hard to breathe, and howhat feels. copd includes chronic bronchitis and emphysema. spiriva helps contl my copd mptotoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva ishe only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalationowder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. scuss all medicines you take, even eye drops. stop taking spiriva and seek imdiate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain or problems passing urine. other side effects include drmouth and
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. look, if youave co like me, you know it can be hard to breathe, and howhat feels. copd includes chronic bronchitis and emphysema. spiriva helps contl my copd mptotoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva ishe only...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? ca this congress and this president figure out how to do the right thing? admiral james lyons joins us next. ♪ ♪ here come the -- [ cap twisting off ] hey, yo?! i lost audio. what happened?! [ ice crackling ] what!?! oh, it better not be! what's going on? ♪ it's time to put a stop to this! yay-e, yay-e! [ male announcer ] the coors light silver bullet pint. it's bigger. it's resealable. it's still the coldest. ♪ get out of my booth!!! [ male announcer ] frost brewed coors light. the world's most refreshing beer. at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and af
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? ca this congress and this president figure out how to do the right thing? admiral james lyons joins us next. ♪ ♪ here come the -- [ cap twisting off ] hey, yo?! i lost audio. what happened?! [ ice crackling ] what!?! oh, it better not be! what's going on? ♪ it's time to put a stop to this! yay-e, yay-e! [ male announcer ] the coors light silver bullet pint. it's...
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dagen: republicans finally pulling off their own plan to deal with the fiscal cliff. connell: the white house predictably saying, no deal. the parameters are there now. we can start to imagine what a deal may look like. >> i think that is right. they have been adamant in saying we want more revenue. they have kept the rates down. they have had spending cuts. i think they will find a deal just over a trillion in revenue. dagen: it is a turnaround for the republicans to say that we will raise revenue. how they get to it is very different from anything we have heard from president obama. >> i think that the president and the democrats are dug in. they want to raise the marginal tax rates for the upper earners of america. they are willing to allow a deal to lapse rather than have the tax rate rise. connell: maybe there is not a deal taking shape. they could say something like, we will raise these rates, but instead of $250,000, it has to be $500,000 or $1 million. there are ways to play a round with this. >> i think the republicans would lose, frankly, being the majority
dagen: republicans finally pulling off their own plan to deal with the fiscal cliff. connell: the white house predictably saying, no deal. the parameters are there now. we can start to imagine what a deal may look like. >> i think that is right. they have been adamant in saying we want more revenue. they have kept the rates down. they have had spending cuts. i think they will find a deal just over a trillion in revenue. dagen: it is a turnaround for the republicans to say that we will...
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the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. olaf gets great rewards for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? ♪ lou: 31 days unl the fiscal clef, the threat of sequestration largely being ignored. automatic spending cu
the fiscal cliff now 31 days away, still no mention of sequestration cuts. cuts in the pentagon budget with deadly consequences? can this congress and this president figure out how to do the right thing? admiral james lyons joins us next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your...
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that wa house speaker john boehner today putting to rest the idea that a fiscal cliff deal is on its way. some angry lawmakers are now saying the last three weeks have been a complete waste and that president obama's new detailed proposal is a total non-starter. hedge fund manager jonathan hoenig agrees. he joins us to tell us why he thinks the president's plan rests entirely punishing the minority, that is the rich. thanks for having you back on the show. >> hello, melissa. melissa: this is depressing topic you will make it light and happy for us somehow. >> there is nothing happy about wealth destruction that is exactly what president is doing. you raised a very important point. why is it the president's plan to fix the economic calamity specifically reinvolves hurting minority, as you point out the so-called rich? redistribution is once again the center of his proposal. it is not only immoral but impractical as well. we're talking about 1.6 dro trillion coming out of the economy, coming out of invests, not being put into new jobs and new businesses being sent to washington instead
that wa house speaker john boehner today putting to rest the idea that a fiscal cliff deal is on its way. some angry lawmakers are now saying the last three weeks have been a complete waste and that president obama's new detailed proposal is a total non-starter. hedge fund manager jonathan hoenig agrees. he joins us to tell us why he thinks the president's plan rests entirely punishing the minority, that is the rich. thanks for having you back on the show. >> hello, melissa. melissa: this...
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melissa: the amazing christian says he can work his magic to fix the fiscal cliff. that's right. all he needs is an hour and a room with both president obama and the house speaker. basically he would play a denim and check on them. he says if he can bring them to the right state of mind and through mental suggestion and mental conditioning that will start compromising. it's a trick of like to see. >> i love someone -- it's unmanly kind of love, but i love this guy the three and a half and on my show of force years ago, and he predicted the super bowl victories. unwilling. melissa: before the game? >> before the game. he lost something up in my room and did not give in hawaiian. a ticket home with me. he predicted it. however embarrassing a think he's met his match year. to vote -- folks inside the beltway don't think logically. that's what i don't think it'll work. >> i said bring the men. given the track. >> bring the man. they can actually find that compromise. >> of love to see him in there. and now he would make sense. melissa: one that at a magician. we already have clouds i
melissa: the amazing christian says he can work his magic to fix the fiscal cliff. that's right. all he needs is an hour and a room with both president obama and the house speaker. basically he would play a denim and check on them. he says if he can bring them to the right state of mind and through mental suggestion and mental conditioning that will start compromising. it's a trick of like to see. >> i love someone -- it's unmanly kind of love, but i love this guy the three and a half and...
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also, who's talking to congressional leaders about the fiscal cliff? tim geithner. obama goes on the road, look at that video. tim geithner arriving at the white house. capitol hill, dow industrials up 63 points in the early going this there's a morning. recovering investment banker carol roth is here, charles payne is here and nicole petallides on the floor. she looks really angry, on the floor of the stock exchange. new at 10:00, is the mortgage deduction on the table in the fiscal cliff talks, the answer is yes. >> at this point everything is on the table. the challenges you have to question where the limit is. do we want people to the grandfathered in, you don't want anyone to get a new mortgage, we have ridiculously low interest rates, stocks in terms of prices, we don't need it to the grandfathered and the table for the future. stuart: i don't believe anyone is saying abolish the mortgage interest deduction. and a certain amount year is what they were saying. and the interest on it is -- they lower that. charles: there are some people that are derivative. stua
also, who's talking to congressional leaders about the fiscal cliff? tim geithner. obama goes on the road, look at that video. tim geithner arriving at the white house. capitol hill, dow industrials up 63 points in the early going this there's a morning. recovering investment banker carol roth is here, charles payne is here and nicole petallides on the floor. she looks really angry, on the floor of the stock exchange. new at 10:00, is the mortgage deduction on the table in the fiscal cliff...
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cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going to suburban virginia to speak to a middle-class family and he will press congress to protect those making less than $250,000 a year from tax increases by raising rates on those making more. in washington it is the same fight. >> president obama, democrats in congress have ever been ambiguous, provide economic security for 90% of american families and 97% of small businesses asking the wealthiest 2% to contribute just a little more to stop this runaway debt. >> what the president is really interested in as we learned just yesterday he is getting as much taxpayer money as he can first by raising taxes on
cheryl: they are leaving town despite the fact we are nowhere close to a deal on the fiscal cliff. what is going on, rich edson? "imus in the morning" rich: house republicans will host the events with small business leaders in their districts and highlight what republicans say will be the economic damage small-business from raising income-tax rates on families earning $250,000 a year. president obama is leaving washington too though he is only heading across the potomac river, going...
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i thought of slick willie today as i was listening to the reporting of the fiscal cliff. the president's point man saying of the weekend shows, higher taxes must be a part of any resolution with republicans, presumably the white house teams thinks the wealthy are where the money is. i have some news for him. that strategy may just not work. consider britain. after the government announced a plan to levy a 50 percent income tax on people earning a million pounds or more big number of people in that category shrunk. check out these numbers. the number of millionaire tax filers in 2009. by the time, the tomb of the law went into affect it fell. the government had been its @%pes on raising two and a half billion pounds in new revenue but the law of unintended consequences to cold. suddenly and inexplicably there were 60 percent fewer millionairess. british million has contributed 13 and a half billion pounds or 9 percent of all the government and come before the hike. fast forward. millionaire taxes raised six and a half billion pounds or less. for a half percent after the hi
i thought of slick willie today as i was listening to the reporting of the fiscal cliff. the president's point man saying of the weekend shows, higher taxes must be a part of any resolution with republicans, presumably the white house teams thinks the wealthy are where the money is. i have some news for him. that strategy may just not work. consider britain. after the government announced a plan to levy a 50 percent income tax on people earning a million pounds or more big number of people in...
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melissa: as washington is in the middle of this tumultuous fiscal cliff negotiations from a white house looking for more money in the terms of emotions the aid request rebuilding efforts. still willing from super storm sandy here in the northeast. peter barnes in washington with the latest on that effort. speaker according to "the new york times" for white house will be looking for about $50 billion to help rebuild from hurricane sandy. officials testifying declined to comment that number but they did say the white house will be sending in disaster relief bill up to congress by the end of the week. the three hardest hit states: new york, new jersey and connecticut alone are seeking $80 billion in federal help. the administration is teeing up a big request. >> much of the impact of sandy go beyond fema programs. fema's assistance is limited, maximum benefits of individual family could receive is about $31,000 if they have no assurance. others that will not rebuild destroyed or damaged home to did not have insurance. >> woke up to this headline. u.s. denies aid to the maryland storm victi
melissa: as washington is in the middle of this tumultuous fiscal cliff negotiations from a white house looking for more money in the terms of emotions the aid request rebuilding efforts. still willing from super storm sandy here in the northeast. peter barnes in washington with the latest on that effort. speaker according to "the new york times" for white house will be looking for about $50 billion to help rebuild from hurricane sandy. officials testifying declined to comment that...
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cliff. >> look, i think they're actually some pretty strong incentives for the president to take the country over the fiscal cliff. if you look at what the president's stance to gain if the country goes over the fiscal cliff, there are very clear and identifiable things. on the one hand the president could identify himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before the fiscal cliff. he can turn and say to my want to restore some of this funding that my secretary of defense and joint chiefs of staff told me i need to restore and can position himself as sort of the protector of u.s. national security. so there are some clear incentives to the president to lead the country over the fiscal cliff. do i think that's what he wants? probably not, but do i think there are incentives for him to do it temecula. gerri: never looked at it that way. as you look
cliff. >> look, i think they're actually some pretty strong incentives for the president to take the country over the fiscal cliff. if you look at what the president's stance to gain if the country goes over the fiscal cliff, there are very clear and identifiable things. on the one hand the president could identify himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did...